Buyer’s Right to Do Final Walk-Through

QUESTION: Paragraph 8(c) of the Offer to Purchase and Contract (form 2-T) states that the seller is required to give the buyer reasonable access to the property through  closing, including the right to do a final walk-through inspection of the Property. I don’t see what good it would do for the buyer to do a walk-through after the Due Diligence  Period has ended since the buyer’s right to terminate the contract ends when the Due Diligence Period is over.

ANSWER: It is true that the buyer’s failure to terminate the contract prior to the end of the Due Diligence Period constitutes a waiver of any right to terminate the contract  based on any matter relating to Buyer’s Due Diligence. However, according to the “Warning” in paragraph 4, following the Due Diligence Period, the Buyer retains the right to  terminate the contract for other reasons permitted under the contact. For example, the Buyer may terminate the contract under paragraph 11 if the property is not in  substantially the same or better condition at Closing as on the date of the offer, and the Buyer may terminate the contract under paragraph 12 if the improvements on the  property are destroyed or materially damaged prior to Closing. In order for the Buyer to determine if those conditions have been satisfied, the Buyer must be able to inspect the Property up until Closing. That is why paragraph 8(c) permits the buyer to do a final walkthrough up until Closing.

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